Question: Equivalent Units and Product cost Report - Weighted Average Method The following data ( and annotations ) are for Joyner Company's processing department work -
Equivalent Units and Product cost ReportWeighted Average Method
The following data and annotations are for Joyner Company's processing department workinprocess account for the month of June:
Beginning inventory units, complete
Direct materials $
Conversion costs
Current period
Direct materials units
Direct labor
Manufacturing overhead applied
Joyner uses the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending workinprocess is composed of units, complete. Compute the following:
a Equivalent units for materials and conversion.
b Cost per equivalent unit for materials and conversion.
c Total cost assigned to the units transferred out.
Equivalent Units
Where do the units come from?
Where do the units go
Work
Done? Direct
Materials Work
Done? Conversion
Costs
Beginning Inventory Answer
CompleteTransferred Answer
Answer
Answer
Answer
Answer
Started
Answer
Ending Inventory
Answer
Answer
Answer
Answer
Answer
Total Answer
Total Answer
Answer
a Answer
a
Product Cost Report
Where do the costs come from? Direct
Materials Conversion
Costs
Beginning Inventory Answer
Answer
Answer
Current
Answer
Answer
Answer
Total Costs to Account For Answer
Answer
Answer
: Total Equivalent Units Answer
Answer
Average cost Equivalent unit Answer
b Answer
b
Where do the costs go
Complete Transferred:
Direct Materials Answer
Conversion costs
Answer
Costs of Goods Manufactured Answer
c
Ending Inventory:
Direct Materials Answer
Conversion costs
Answer
Cost of Ending Inventory
Answer
Total Costs Allocated
Answer
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